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MetalQuest Mining ( (TSE:MQM) ) just unveiled an announcement.
MetalQuest Mining has amended the royalty structure on its Lac Otelnuk Iron Project in Quebec, replacing the existing royalty with a 2.5% gross overriding royalty on iron product sales with no deductions, and securing a one-time right to reduce that royalty by 1.0% through the issuance of 500,000 common shares to the royalty holder. The company has already notified the royalty holder of its intention to exercise this reduction right, which, once approved by the TSX Venture Exchange, would lower the royalty burden to 1.5%, enhance MetalQuest’s flexibility in future technical work programs and project planning, and preserve a right of first refusal on any future sale of the remaining royalty interest, thereby strengthening its economic position and strategic control over this flagship iron asset.
The most recent analyst rating on (TSE:MQM) stock is a Hold with a C$0.30 price target. To see the full list of analyst forecasts on MetalQuest Mining stock, see the TSE:MQM Stock Forecast page.
Spark’s Take on TSE:MQM Stock
According to Spark, TipRanks’ AI Analyst, TSE:MQM is a Neutral.
The score is held back primarily by weak financial performance (ongoing cash burn and lack of stable, revenue-supported operating profitability), with a secondary drag from a very high P/E and no dividend support. Offsetting these risks, technicals are strong, with price above key moving averages and positive momentum indicators.
To see Spark’s full report on TSE:MQM stock, click here.
More about MetalQuest Mining
MetalQuest Mining Inc. is a Canadian mineral exploration and development company focused on advancing the Lac Otelnuk Iron Project in Quebec’s Labrador Trough, one of the largest iron projects in North America. The company holds 100% of the Lac Otelnuk claims, on which approximately $120 million has been spent to date, and is working under an Exploration and Pre-Development Agreement with the Naskapi First Nation of Kawawachikamach. MetalQuest has engaged AtkinsRéalis to perform a gap analysis on the historic 2015 feasibility study to align it with current market, regulatory, engineering and environmental standards, and also holds the ROF-1 critical minerals land package in Ontario’s Ring of Fire, prospective for VMS-style mineralization.
Average Trading Volume: 39,512
Technical Sentiment Signal: Buy
Current Market Cap: C$9.95M
See more data about MQM stock on TipRanks’ Stock Analysis page.